Weekly Company gathered the following information for the year ended December 31: Direct labor cost incurred for the year $180,500 Estimated manufacturing overhead costs $269,100 Estimated direct labor cost $214,900 Work in process inventory, Dec, 31 $51,000 Finished goods inventory, Dec. 31 $60,100 Cost of goods sold $141,300 Estimated direct labor hours 260,300What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base?   Question 46 options:   103% of direct labor cost   84% of direct labor cost   119% of direct labor cost   125% of direct labor cost

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $329,800 and direct labor hours would be 49,100. Actual manufacturing overhead costs incurred were $316,500, and actual direct labor hours were 50,200. The journal entry to apply the factory overhead costs for the year would include a

Assume (1) estimated direct labor hours used to calculate the predetermined overhead rate = 19,950, (2) the manufacturing overhead applied to production = $105,000, and (3) the total direct labor hours actually worked during the period = 21,000.What is the estimated total manufacturing overhead cost for the period?

The following is a manufacturing cost report of Marching Ants Inc. Evaluate and correct this report.

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 30,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 36,000. The journal entry to apply the factory overhead costs for the year would include a

Coop's Stoops estimated its annual overhead to be $72,000 and based its predetermined overhead rate on 24,000 direct labor hours. At the end of the year, actual overhead was $77,190 and the total direct labor hours were 23,830. What is the entry to dispose of the overapplied or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold ✓✓ Manufacturing Overhead X ✓ ✓ X

The following selected data were taken from the accounting records of Metcalf Manufacturing. The company uses direct-labor hours as its cost driver for overhead costs. Month January February March April May June Direct-Labor Hours 37,000 39,000 52,000 40,000 44,000 42,000 March's costs consisted of machine supplies ($296,400), depreciation ($32,500), and plant maintenance ($570,100). These costs exhibit the following respective behavior: variable, fixed, and semivariable. Manufacturing Overhead $701,000 740,000 899,000 754, 250 805,500 802,500 The manufacturing overhead figures presented in the preceding table do not include Metcalf's supervisory labor cost, which is step- fixed in nature. For volume levels of less than 15,000 hours, supervisory labor amounts to $77,500. The cost is $155,000 from 15,000- 29,999 hours and $232,500 when activity reaches 30,000 hours or more. Required: 4. 1. Determine the machine supplies cost and depreciation for January. 2. Using the high-low method,…

A company's overhead rate is 50% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used.   Work in Process Inventory Beginning WIP 113,800     Direct materials ?     Direct labor ?     Applied overhead ?     To finished goods     ? Ending WIP 148,000       Factory Overhead 113,800 102,420   Finished Goods Inventory Beginning FG 133,700       367,400   340,400 Ending FG 160,700